Northland Securities Reaffirms Buy Rating for New Age Beverages (NBEV)

New Age Beverages (NASDAQ:NBEV)‘s stock had its “buy” rating restated by stock analysts at Northland Securities in a report released on Monday, April 1st, AnalystRatings.com reports. They presently have a $8.00 price target on the stock. Northland Securities’ target price would suggest a potential upside of 45.19% from the company’s current price.

Other analysts have also recently issued research reports about the company. Roth Capital lifted their price objective on New Age Beverages from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, December 4th. BidaskClub raised New Age Beverages from a “hold” rating to a “buy” rating in a research report on Saturday, January 12th. ValuEngine raised New Age Beverages from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Alliance Global Partners initiated coverage on New Age Beverages in a research report on Tuesday, March 26th. They set a “buy” rating and a $8.00 price objective for the company. Finally, TheStreet raised New Age Beverages from a “d+” rating to a “c-” rating in a research report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.95.

NBEV traded up $0.31 during trading on Monday, reaching $5.51. 5,426,721 shares of the stock traded hands, compared to its average volume of 8,768,179. New Age Beverages has a fifty-two week low of $1.30 and a fifty-two week high of $9.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.74 and a quick ratio of 1.07.

In other New Age Beverages news, CEO Brent D. Willis sold 150,000 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $5.97, for a total value of $895,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.90% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of New Age Beverages by 425.7% in the third quarter. BlackRock Inc. now owns 743,966 shares of the company’s stock worth $3,980,000 after purchasing an additional 602,434 shares during the period. Vanguard Group Inc increased its stake in shares of New Age Beverages by 75.6% in the third quarter. Vanguard Group Inc now owns 1,357,536 shares of the company’s stock worth $7,263,000 after purchasing an additional 584,381 shares during the period. Vanguard Group Inc. increased its stake in shares of New Age Beverages by 75.6% in the third quarter. Vanguard Group Inc. now owns 1,357,536 shares of the company’s stock worth $7,263,000 after purchasing an additional 584,381 shares during the period. Perritt Capital Management Inc. bought a new position in New Age Beverages during the fourth quarter valued at about $1,690,000. Finally, Jane Street Group LLC bought a new position in New Age Beverages during the third quarter valued at about $1,081,000. 13.49% of the stock is owned by institutional investors.

New Age Beverages Company Profile

New Age Beverages Corporation, a healthy functional beverage company, engages in the development, marketing, sales, and distribution of beverages. The company offers ready to drink (RTD) tea, RTD coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.

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